Overview
What is Renaissance City Development Association?
The Renaissance City Development Association, situated in New London, Connecticut (specifically at 216 Howard Street, 06320), is a dedicated nonprofit organization. Its primary mission is to boost the economic well-being of New London, aiming to expand the city's tax base. To achieve this, the association focuses on three key objectives: creating job opportunities, enhancing the local, regional, and state economy, and providing chances for the community and the broader region. To realize these goals, the RCDA is currently engaged in the Fort Trumbull Project, involving the redevelopment of the decommissioned Naval Undersea Warfare Center into residential, hotel, and conference facilities. The RCDA, with a staff of just two individuals, plays a significant role in New London's economic growth.
Official website here: www.rcda.co
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Star rating.
The Renaissance City Development Association received a strong rating of 90%, reflecting its robust accountability and financial health. The rating is based solely on the organization's fiscal practices, indicating a high level of transparency and responsible management of resources. This is particularly noteworthy as the organization scores perfectly in areas such as the majority of independent board members, material diversion of assets, and program expense ratio.
Strengths include a fully independent board and sound financial practices, with indicators showing a solid liabilities to assets ratio of only 0.91%. However, it is important to note a limitation in the absence of a whistleblower policy, which may be viewed as a gap in governance practices. Overall, the Renaissance City Development Association demonstrates a commitment to accountability and effective governance.
This AI summary has been generated from information found on Charity Navigator.
Is Renaissance City Development Association legitimate?
Renaissance City Development Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Renaissance City Development Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $113,000
For more financial information, click here
Official website here: www.rcda.co
What is the mission statement of Renaissance City Development Association?
The Renaissance City Development Association is dedicated to enhancing the economic health of a specified city, with the aim of expanding its tax base. Their mission involves promoting economic growth, creating job opportunities, and improving the local, regional, and state economy. The association strives to create opportunities not just for the city's citizens but for the entire region as well. Their primary goals include fostering economic development and providing opportunities for both the city and its surrounding areas. The corporation actively works towards these objectives, as demonstrated by their involvement in projects such as the Fort Trumbull redevelopment, which transforms a decommissioned naval undersea warfare center into residential, hotel, and conference facilities.
Official website here: www.rcda.co
Who is the CEO of Renaissance City Development Association?
Linda Mariani is the President of Renaissance City Development Association.
Official website here: www.rcda.co
What is the revenue of Renaissance City Development Association?
Renaissance City Development Association's revenue in 2023 was $32,605.
Official website here: www.rcda.co
Who are the executives of Renaissance City Development Association and what are their salaries?
The average compensation at Renaissance City Development Association during 2023 was $56,500. There are 2 employees and 25 volunteers at Renaissance City Development Association.
Here are 8 key members and their salaries:
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Official website here: www.rcda.co
Where can I find the form 990 for Renaissance City Development Association?
Renaissance City Development Association's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.rcda.co
Learn more at the official website: www.rcda.co
Mission Statement of Renaissance City Development Association
The Renaissance City Development Association (RCDA) is committed to enhancing the economic health of a particular city, promoting growth, and expanding its tax base. This nonprofit organization has three primary objectives: creating job opportunities, boosting the local, regional, and state economy, and providing prospects for its citizens and the broader region. By accomplishing these goals, the RCDA strives to contribute positively to its community's overall development.
One of the RCDA's significant initiatives is the Fort Trumbull project, which involves the redevelopment of the decommissioned Naval Undersea Warfare Center. This project aims to transform the site into a residential, hotel, and conference center, creating a hub for various activities that will undoubtedly stimulate the local economy. The RCDA's dedication to improving its city's economic health and offering opportunities for its citizens is evident in this ambitious project.
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Impact
August, 2024
The Renaissance City Development Association has made a significant impact on New London by promoting and improving the economic health of the city. Their focus on expanding New London's tax base has brought about tangible benefits such as job creation, economic growth, and opportunities for local residents. One notable project they have undertaken is the redevelopment of the decommissioned Naval Undersea Warfare Center as a residential, hotel, and conference center at Fort Trumbull. Through their efforts, the RCDA is not only revitalizing the city but also creating a more prosperous future for its citizens and the entire region.
This information is meant to be a general summary of Renaissance City Development Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $31,205
- Program Service Revenue: $1,400
- Gross Receipts: $32,605
Assets and Liabilities:
- Total Assets: $3,430,057
- Total Liabilities: $31,219
- Net Assets: $3,398,838
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Membership Dues & Assessments
Revenue
$1,400
Organization Details
Founding Year
1979
Phone
(860) 447-8011Principal Officer
Linda Mariani
Main Address
216 HOWARD STREET, NEW LONDON, CT, 06320
Website
www.rcda.coNTEE Category
Code: S300 - Community improvement
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